HelleniQ Energy Holdings S.A. on Thursday announced that its wholly owned subsidiary, HelleniQ Energy Finance Plc has successfully floated a new five-year aggregate principal amount of 450 million euros at a fixed coupon of 4.25% – and a Υield-To-Maturity of 4.375%.
The new notes are expected to be listed for trading on the Euro MTF market of the Luxembourg Stock Exchange.
According to an announcement by the refinery and petrochemical concern, total demand in the offer book exceeded one billion euros, coming both from holders of existing bonds through the tender offer process for the notes, as well as from new investors.
“Notably, the demand from new investors exceeded the additional requested amount by four times, beyond the demand through the offer. Due to the increased investor interest, the final issue amount was upsized to €450m compared to the initially requested amount of €400m, while the yield was set at 4.375%, significantly lower than the initial price talk of 4.75% at the launch of the book building process.”
In a statement, HelleniQ CEO Andreas Shiamishis stated that “…The success of the new Eurobond issue is a significant vote of confidence from investors in the HELLENiQ ENERGY Group. The transaction garnered substantial investor interest, with the participation of high-quality investors and a geographically diverse distribution. Notably, it was concluded within a few hours, resulting in a notable decrease in the final yield and a simultaneous increase in the issue amount. Demand from international institutional investors was strong, exceeding 40% of the new money offered. The issue further strengthens the Group’s balance sheet, extends the average maturity of its debt obligations, and diversifies and increases the available financing lines, supporting the implementation of our strategic transformation plan.”
